If there’s one thing that’s been clear is that businesses have more rights than humans so we should all register an S Corp in some state that has super lax reporting laws and then post as CEOs of that company.
If they take you to court tell them that you have limited liability as an officer of a corporation and that they need to sue the corporation.
Since the corporation has no assets and no income, you start bankruptcy proceedings. Set up a second company and repeat.
my attorney friend (note: We did not establish privilege) said pretty much the same thing. It’s a lot easier to dismiss liability for an officer of a corporation than for an individual person.
We shit talked very informally and pretty much came to the conclusion that so long as you don’t pierce the corporate veil (e.g. spending company money on personal things), you are pretty protected.
Yeah, that’s what I’m saying. We’re there. Be careful.
If there’s one thing that’s been clear is that businesses have more rights than humans so we should all register an S Corp in some state that has super lax reporting laws and then post as CEOs of that company.
If they take you to court tell them that you have limited liability as an officer of a corporation and that they need to sue the corporation.
Since the corporation has no assets and no income, you start bankruptcy proceedings. Set up a second company and repeat.
That’s…depressingly realistic.
my attorney friend (note: We did not establish privilege) said pretty much the same thing. It’s a lot easier to dismiss liability for an officer of a corporation than for an individual person.
We shit talked very informally and pretty much came to the conclusion that so long as you don’t pierce the corporate veil (e.g. spending company money on personal things), you are pretty protected.
So… register an LLC, once you have fed tax id, then send https://www.irs.gov/pub/irs-pdf/f2553.pdf to IRS and bam you are an s-corp.
Which states are lax about corp laws?
This was a few years ago. Pretty much most of the red flyover states (Arkansas, Minnesota, etc.)
Basically my criteria was:
Most states (even blue states) have pretty strong liability protections so long as you write your bylaws correctly.
But free filing was rare. Most had some sort of annual business license fee.